IKAR in Mass Media

Russian wheat prices fall with harvest pressure

06 сентября 2022 года

MOSCOW, Sept 5 (Reuters) - Russian wheat export prices fell last week under pressure from the new crop, analysts said on Monday, adding that demand from importers was rising.

State grain buyers for Egypt and Algeria bought Russian wheat last week.

Russian prices for wheat with 12.5% protein content and for supply from Black Sea ports fell by $5 to $310 a tonne free on board (FOB) at the end of last week, the IKAR agriculture consultancy said in a note.

Russia exported 760,000 tonnes of grain last week, compared with 660,000 tonnes the previous week, fellow consultancy Sovecon said, citing port data.

Sovecon sees wheat prices for immediate supply at $310-315 a tonne, down from $312-318 a week ago.

Russia is expected to remain mostly dry this week, Sovecon said, adding that farmers had already sown winter grains for the 2023 crop on 2.5 million hectares. That compares with 2.9 million hectares around the same date in 2021.

Other Russian data provided by Sovecon and IKAR:

 Product:                Price at the end     Change from week
                            of last week:              earlier
 - Domestic 3rd class              11,975             +50 rbls
 wheat, European part      rbls/t($197.9)  
 of Russia, excludes                       
 delivery (Sovecon)                        
 - Sunflower seeds          25,675 rbls/t            -425 rbls
 (Sovecon)                                 
 - Domestic sunflower       72,675 rbls/t          -1,350 rbls
 oil (Sovecon)                             
 - Domestic soybeans        34,250 rbls/t            unchanged
 (Sovecon)                                 
 - Export sunflower              $1,360/t                 -$70
 oil (Sovecon)                             
 - Export sunflower              $1,190/t                -$130
 oil (IKAR)                                
 - White sugar,                  $838.3/t               -$48.4
 Russia's south                            
 (IKAR)

Harvesting data provided by Sovecon as of Sept 1:

                          All grains:        Wheat       Barley
 Crop, mln tonnes               117.9         86.9         20.8
 Crop, as of same                90.9         66.0         16.4
 date in 2021                                       
 Yield,                          3.62         3.99         3.18
 tonnes/hectare                                     
 Yield, as of same               2.73         3.00         2.46
 date in 2021                                       
 Harvested area,                 32.5         21.8          6.5
 mln hectares                                       
 Harvested area, as              33.3         22.0          6.7
 of same date in                                    
 2021

* Russia's agriculture ministry has yet to publish harvesting data in detail for the current season.

($1 = 60.5000 roubles)

Source: Reuters | #grain | Comments: 0 Views: 2

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